FINANCE MINISTER SAYS NIGERIA HAS ENOUGH CAPACITY TO REPAY 21.7 TRILLION NAIRA DEBT

The Minister of Finance, Kemi Adeosun, has said that the country has enough capacity to repay its debt obligations, which currently stand at about 21.7 trillion naira.

Adeosun stated this in Abuja yesterday.

She said that the government was not worried about the country’s rising debt as the debt to Gross Domestic Product ratio was still low compared to other countries.

The minister stated that unlike previous government that borrowed to pay salaries, the focus of the administration of President Muhammadu Buhari was to invest massively in infrastructure.

According to her, with over 2.5 trillion naira pumped into infrastructure in the last three years, the country will start seeing the benefits of the borrowed funds.

She explained that the government’s borrowing was a deliberate policy to stimulate economic activities and take the country away from recession.

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